Furniture Retail Store Including Freehold Property For Sale

Business description

This family business was founded in 1875, with the current owner being the fourth generation of the family to have owned this well established furniture store.

Situated on a main high street in a busy market town, the store has an enviable reputation for selling top quality, traditional furniture from a trusted local retailer.

The retail store stocks many household brand names of furniture, beds, carpets, fabrics plus a small china and giftware section, all at competitive prices.

The company name has become synonymous in the town not only for its range and breadth of goods, but for the friendly and efficient local service it provides. Testimony to this are the large number of customers who return time after time to purchase additional items from the store.

Key Strengths

There is no doubting that this business is in an enviable location. Situated on a main high street, in the town centre, it also has next door, one of the busiest supermarkets in the town, with a large car park attached. This gives the business a huge amount of passing traffic every day of the year.The store takes advantage of the passing traffic with six excellent furniture displays in the large windows.

Established in the town for over 130 years the store has become a solid and well respected name in the community and become everyones first stop for furniture and beds.

The stores reputation, without question, is second to none and any new owner would have a head start over the competition with this business.

Financial Detail

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

The sale includes the freehold property and all stocks.
Turnover last year was circa £210,000 with Gross Profit in excess of £100,000.
All other financial detail including current accounts is available.

Property information

Property:

Freehold

Location:

The retail store totals circa 9,500 sq.ft over three floors. The first and second floors are both circa 3,400sq.ft, while the third floor is circa 2,000 sq.ft. All three floors are used as retail showrooms. The third floor has the possibility of being extended, should this be required.
An office and small counter are incorporated into the first floor showroom area.

The building is situated on a corner site on a main high street and has large glazed windows on two sides with excellent furniture displays, two windows front the high street and four windows face the large car park area.

The car park is owned by the adjoining supermarket and used as a pay and display although the current owner has use of two free spaces outside of the store.

Business Operation

Expansion potential:

As shopping has become a seven day a week pastime to many, there is an immediate opportunity to open the shop for an extra two days in the week. The business currently closes every Wednesday and Sunday, which has always been the case, increasing the opening hours in line with other businesses in the town could certainly increase the profitablilty of the store.

As with many established busineses word of mouth recommendation is the main source of advertising. To date the Company has invested limited money on marketing. The vendors recognise that investment in a company website would be a valuable asset and promote the business to as yet untapped markets.

Presently credit terms are not available to customers and this extra facility would bring the store in line with the competitors.

There is an opportunity to develop a small flat roof area of circa 1,000 sq.ft. adjoining the third floor, extending the available showroom space.

Reasons for selling:

The owner wishes to retire.

Employees:

Apart from the owner who handles the day to day running of the business, there are two part time shop assistants, and one part time administration clerk. Sub contractors are used for both carpet fitting and curtain making and a delivery driver is employed for one day a week.

Years established:

1875